Life Insurance in Singapore industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Singapore life insurance market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
- The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans. All currency conversions have been calculated using constant 2011 annual average exchange rates. The insurance market depends on a variety of economic and non-economic factors and future performance is difficult to predict. The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move.
- The Singaporean life insurance market had total gross written premiums of $11.3 billion in 2011, representing a compound annual rate of change (CARC) of -1.6% between 2007 and 2011.
- The life insurance segment was the market's most lucrative in 2011, with total gross written premiums of $11 billion, equivalent to 97.6% of the market's overall value.
- The performance of the market is forecast to accelerate, with an anticipated CAGR of 8.5% for the five-year period 2011 - 2016, which is expected to drive the market to a value of $16.9 billion by the end of 2016.
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Macroeconomic indicators provide insight into general trends within the Singapore economy
Key Questions Answered
What was the size of the Singapore life insurance market by value in 2011?
What will be the size of the Singapore life insurance market in 2016?
What factors are affecting the strength of competition in the Singapore life insurance market?
How has the market performed over the last five years?